Islamic Financing of Infrastructure in Africa
Infrastructure needs in emerging African economies are growing at exponential rates, and traditional investment has been unable to match the significant funding requirements. It is clear that innovation and new modes of financing will be needed. The Islamic finance industry, which grew at a double-digit rate in the past decade and is now present in over 20 African countries, has the potential to bridge the gap in infrastructure investment. Islamic finance adheres to the principles of Shari’ah law (Islamic law) and avoids activities that involve usury, gambling, excess uncertainty, and businesses that are considered haram (unlawful).
This event will bring together key stakeholders and experts in Islamic finance to explore ways in which the industry can be mobilized to fund long-term investment financing in Africa. Speakers will examine the role that Sukuk (Islamic bonds) can play in funding long-term projects, the use of public-private partnerships in Islamic infrastructure finance, and the importance of credit ratings.